๐จ๐บ๐ธHere is the full coverage of #JeromePowell Powell's speech, in addition to journalists' questions and his responses to them.
๐๐บ๐ธ The #USGDP Federal Reserve is committed to returning inflation towards its specified target and optimal exploitation of the labor market.
๐๐บ๐ธIn light of recent developments, the US Federal Reserve has become more cautious.
๐๐บ๐ธAdditional tightening of monetary policy will depend on how economic data develops.
๐๐บ๐ธRecent data indicates that economic activity is growing at a very strong pace.
๐๐บ๐ธConditions in the labor market are still very strong, although the pace has clearly slowed.โ
๐๐บ๐ธDemand for employment still exceeds supply.
๐๐บ๐ธUS inflation is still higher than its target.
๐๐บ๐ธInflation has moderated clearly during the recent period.
Some positive data does not mean that we have achieved our goal.
๐๐บ๐ธWe still have a lot of time to achieve the inflation target.
The US Federal Reserve understands the difficulty of inflation for citizens.
๐๐บ๐ธThe US Federal Reserve raised interest rates significantly to control high inflation.
๐๐บ๐ธThe US Federal Reserve is committed to a tightening monetary policy in an attempt to control inflation and move towards its specified target.
๐๐บ๐ธ The lack of calm conditions in the labor market may represent a danger to achieving the US Federal Reserveโs inflation target.
๐๐บ๐ธThe US Federal Reserve is monitoring local and global developments very carefully.
๐๐บ๐ธThe upcoming interest rate decisions will be taken at each meeting separately, and will depend on the upcoming economic data.
๐๐บ๐ธThe US Federal Reserve is committed to returning inflation towards its specified target, and this may require that conditions in the labor market weaken slightly.
๐๐บ๐ธ We understand that the decisions of the US Federal Reserve affect all citizens.
๐๐บ๐ธAll decisions taken by the Fed are consistent with its commitments to achieving the goals of inflation and optimal exploitation of the labor market.
๐จ๐บ๐ธJerome Powell answers journalistsโ questions:
๐๐บ๐ธInflation has clearly decreased, but it is still above its target.
๐๐บ๐ธUnemployment has risen slightly, but conditions in the labor market are still very strong.
๐๐บ๐ธThe US Federal Reserve is not yet sure that it has reached the peak of raising interest.
๐๐บ๐ธ Tight monetary policy should remain for a while.
We will take a decision to tighten monetary policy further if this is appropriate to curb high inflation.
๐๐บ๐ธWe have a lot of economic data, whether inflation data, labor market data, or economic growth data.
๐๐บ๐ธAll of this data affects interest decisions.
๐๐บ๐ธMaking a decision to raise interest again may depend on the pace of upcoming data.
๐๐บ๐ธEconomic recession is not among our basic scenarios.
๐๐บ๐ธFinancial conditions are very restricted at the moment and this can be clearly seen.
๐๐บ๐ธIt seems that our monetary policy is starting to affect the economy, but the American economy appears to be stronger and more resilient than we thought.
๐๐บ๐ธWe are dealing with the current economic situation as it currently is.
๐๐บ๐ธIf members of the US Federal Reserve see that the economic situation requires raising interest again, it will take a decision to do so.
๐๐บ๐ธThe current question currently is to what extent the US Federal Reserve can raise the interest rate.
๐๐บ๐ธThe next question will be to what extent the US Federal Reserve can maintain high interest rates.
๐๐บ๐ธI think that the thinking might be to raise the interest rate once additionally, not twice.
๐๐บ๐ธ The US Federal Reserve is monitoring geopolitical tensions as they occur in Russia and Ukraine and between Hamas and Israel.
๐๐บ๐ธThe best task the US Federal Reserve can do for the United States is to restore the goal of price stability.
๐๐บ๐ธWe are trying to restore the inflation target without unemployment rising too high.
๐๐บ๐ธEconomic growth is very strong.
๐๐บ๐ธ Most likely, we may need economic growth to slow down and conditions in the labor market to calm down, in order for us to restore the inflation target.
๐๐บ๐ธWe are currently working together to achieve the inflation goal.
๐๐บ๐ธWe may need some slowdown until the goal of price stability is achieved.
๐๐บ๐ธEconomic data is what will tell us what to do and whether we will continue to raise interest or not.
๐๐บ๐ธ Interest expectations for US Federal Reserve members may change based on economic developments.
๐๐บ๐ธ Interest expectations were changed during the quarterly meetings of the US Federal Reserve based on economic developments.
๐๐บ๐ธThe US Federal Reserve moves each meeting individually, and this depends on the economic data.
๐๐บ๐ธThe US Federal Reserve is moving very cautiously, and monetary policy is tightening at the present time, and we are seeing its repercussions on the American economy currently.
๐๐บ๐ธWe monitor many economic conditions and developments.